20 Questions - Canadian Institute of Chartered Accountants

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How to use this publication Each “20 Questions” publication is designed to be a concise, easy-to-read introduction to an issue of importance to directors. The question format reflects the oversight role of directors which includes asking a lot of questions. For each question there is a brief explanatory background and some recommended practices. The questions are intended to be relevant to most not-for-profit organizations. The “answers” or comments that accompany the questions summarize current thinking on the issues and practices of not-for-profit governance. There are many views on the best way to govern and manage not-for-profit organizations and a number of governance models. This document describes general principles that apply in most situations. If your organization has a different approach, you are encouraged to test it by asking if it provides a valid answer to the question. After the comments there are lists of recommended practices that directors can use to assess their understanding of their organization and to prompt further questions if they are not fully satisfied with the answers. They represent aspirations, not absolute standards that must be met immediately. Directors who come from a for-profit business may find that their experience, although helpful, will not always provide the best answers in the not-for-profit environment. Appendix 1 compares and contrasts corporate and not-for-profit governance. Readers who want more details on specific topics may refer to the section on “Where to Find More Information.” Most of the CICA 20 Questions series of publications for directors were written for business boards but are relevant to not-for-profit boards. Author Hugh Lindsay, FCA, CIP Project direction by Beth Deazeley, LL.B., Principal, Risk Management and Governance, CICA INSTITUTE OF COR PORATE DI R ECTORS
20 Questions Directors of Not-For-Profit Organizations Should Ask about Strategy and Planning
Page 1: 20 Questions Directors of Not-For-P
Page 5 and 6: Preface The Risk Management and Gov
Page 7 and 8: Strategic Planning Strategic planni
Page 9 and 10: Values are important when decisions
Page 11 and 12: Recommended practices • The organ
Page 13 and 14: 8. How much risk is appropriate? Ef
Page 15 and 16: in delivering the appropriate quali
Page 17 and 18: 12. What is the board’s role in p
Page 19 and 20: 14. How will changes in programs an
Page 21 and 22: 17. How much will be needed for bui
Page 23 and 24: Monitoring and Learning 19. How doe
Page 25 and 26: Appendix 1 A comparison of corporat
Page 27: Appendix 2 This chart illustrating
Page 31 and 32: Where To Find More information Cana
Page 33: Websites Alliance for Nonprofit Man
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20 Questions - Canadian Institute of Chartered Accountants

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